N26 founder-backed Finmid raises €17M Series A extension, lands Bolt financing deal

Berlin-based fintech Finmid has raised a €17m extension to its Series A, backed by investors including Big Pi Ventures and Mainset, and secured a deal with Estonian ride-hailing company Bolt that expands the startup into vehicle financing.

Founded in 2021 by former N26 executives Alex Talkanista and Max Schertel, Finmid provides embedded, white-label lending services to businesses. The company is also backed by N26 co-founder Max Tayenthal, their former boss. The latest round was led by Athens-based Big Pi Ventures and London-based Mainset, with existing investor Earlybird also participating. Finmid has now raised €52m in total, with Blossom Capital among its other backers.

As part of its expansion, Finmid has signed a multi-year vehicle financing agreement with Bolt. The deal will give Bolt fleet operators access to as much as €400,000 over four years to finance vehicles. Finmid has also agreed a merchant lending partnership with Greek online marketplace Skroutz, adding to a customer base that includes Wolt and Delivery Hero.

The new funding will be used to expand Finmid's asset-financing products, invest in its infrastructure and underwriting capabilities, and enter new categories including mobility and e-commerce.

Talkanitsa said: "Two years ago, embedded lending meant a cash advance for a restaurant. Today the same rails carry a multi-year vehicle loan, a marketplace's own balance sheet, and the potential for more. Every platform with business customers now has a way to become their financing partner without becoming a bank."